Nike Inc (NYSE:NKE) Position Reduced by RKL Wealth Management LLC

RKL Wealth Management LLC trimmed its position in Nike Inc (NYSE:NKE) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,478 shares of the footwear maker’s stock after selling 261 shares during the quarter. RKL Wealth Management LLC’s holdings in Nike were worth $2,314,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc lifted its position in Nike by 1.2% during the third quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after buying an additional 1,207,986 shares in the last quarter. BlackRock Inc. lifted its position in Nike by 4.3% during the fourth quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock worth $6,395,928,000 after buying an additional 3,592,186 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Nike by 6,517.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock valued at $476,000 after purchasing an additional 34,749,961 shares during the period. Northern Trust Corp raised its position in Nike by 2.4% in the fourth quarter. Northern Trust Corp now owns 20,985,790 shares of the footwear maker’s stock valued at $1,555,886,000 after purchasing an additional 491,974 shares during the period. Finally, FMR LLC raised its position in Nike by 10.2% in the fourth quarter. FMR LLC now owns 18,168,787 shares of the footwear maker’s stock valued at $1,347,034,000 after purchasing an additional 1,689,091 shares during the period. Hedge funds and other institutional investors own 65.71% of the company’s stock.

NKE has been the topic of a number of research analyst reports. Morgan Stanley set a $103.00 target price on Nike and gave the company a “buy” rating in a research report on Friday, March 22nd. Wedbush restated an “outperform” rating and issued a $96.00 target price on shares of Nike in a research report on Friday, March 22nd. Rowe upgraded Nike from a “sell” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Friday, February 8th. Zacks Investment Research downgraded Nike from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. Finally, Cowen set a $90.00 price objective on Nike and gave the company a “buy” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $87.39.

Shares of NYSE NKE traded down $2.33 during trading hours on Wednesday, reaching $78.87. The stock had a trading volume of 9,896,872 shares, compared to its average volume of 6,811,159. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39. The stock has a market cap of $129.13 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.48 and a beta of 0.67. Nike Inc has a fifty-two week low of $66.53 and a fifty-two week high of $90.00.

Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The firm had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $9.60 billion. Nike had a return on equity of 45.78% and a net margin of 10.79%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. Sell-side analysts anticipate that Nike Inc will post 2.54 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, May 31st. Nike’s dividend payout ratio (DPR) is 36.36%.

In related news, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $85.02, for a total value of $9,352,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Monique S. Matheson sold 16,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total value of $1,455,465.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,504 shares of company stock valued at $14,320,816. Company insiders own 3.90% of the company’s stock.

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Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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